Americans are anxious about their ability to live out their Golden Years with a measure of financial security. Those fears, unfortunately, are more than justified.
With about 10,000 Americans retiring each day, a growing number are leaving the workforce without pensions, with modest Social Security benefits or inadequate individual account balances. Factor in skyrocketing health care costs and the picture becomes even more alarming.
“It doesn’t take an actuary to see that the numbers for many just don’t add up,” Diane Oakley, executive director of the National Institute on Retirement Security (NIRS) and Kelly Kenneally, its communications advisor, wrote in a report released Tuesday.
Source: Kate Gibson, CBS MoneyWatch